Alex Green Energy has emerged the lowest bidder in the 25 MW solar PV programme of the Odisha government, quoting a historic Rs 7 a unit.
Alex's quote is therefore the lowest ever in the country, notably lower than the Rs 7.49 a unit quoted by SolaireDirect of France, under the National Solar Mission.
What gives Alex the confidence to be able to sell solar power at Rs 7 a unit is presumably the fact that it needs to complete the project only by August 2013, by which time it is safe to assume that solar module prices would have fallen further.
The company's quote indicates that solar power is inching towards the holy grail of the solar industry — grid parity.
Alex Green bid for a 5 MW project, but under the rules of the Odisha tender, the least bidder will be offered all the 25 MW at the winning price. It is learnt that Alex has decided to accept the offer.
In bidding at Rs 7, Alex has bettered big names such as Welspun Renewable (which quoted Rs 8.87), Azure Power (Rs 8.98) and Sai Sudhir Energy (Rs 8.6).